By Kate Heaney
A SPECTACULAR designer home of over 6,000 square feet with an indoor heated pool and panoramic views over Grianan Farm, Inch Island and Lough Swilly comes on to the market today with a price reduction of €500,000.
The new selling price of €450,000 also includes two adjoining sites of .7 of an acre each.
Carraig Ard at Corrownamaddy, Burt had been agreed for sale at €950,000 just two years ago.
However, it has since been tested for mica and the brochure carries the following caveat – “Deleterious Materials: A survey has been carried on the building and there is a HIGH risk to deterioration from potential freeze-thaw damage. The concrete should be considered as displaying NEGLIGIBLE Risk to deterioration from sulphide degradation.”
The architect designed six-bedroom home is finished to exacting standards.
It was constructed in 2006 and finished in 2013 and boasts multiple features including underfloor heating and flexible living space.
Estate Agent Kiara Rainey told the Donegal News yesterday that the owners were shocked to learn their home had 7 per cent Mica.
She described the current situation with defective building material homes built in the county as a “quagmire”.
“Government needs to issue more robust guidelines and it has to be science based,” she said.
“We need to get away from mica and concentrate on deleterious materials.
“The mica crisis has had a huge impact on property market here, not to mention those whose homes have been affected.”
Ms Rainey explained that the first question from anyone looking to buy a house in Donegal now is, has there been a mica report done?
The most important issue for previous buyers was, is there broadband?
“It has got to the stage now where, if a house for sale has not had a mica test, people don’t even want to view it.”
She said that a number of years ago people would have spent €7,000 to €8,000 for a mica test and now it can be done for around €3,000.
“That is still a lot of money but if you want to know the property is saleable it is advisable to get it done,” she said.
“Without the right result the property is not saleable or mortgageable. Those who have the test carried out have to wait around three months for the result as the samples are normally sent to the UK to be tested.
“A three-bed semi which has been tested and found to have deleterious materials in it is no longer mortgageable so it is then down to cash buyers and it can be bought for as little as €90,000.
Banks will not give a mortgage for these properties,” she stressed.
Ms Rainey believes it will be at least another year before the redress scheme is finally sorted.
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